Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Benami acquisition of shares was established through the alleged benamidar's lack of economic capacity and genuine operations, indirect funding from entities connected to the beneficial owner, unsupported commercial explanations, and the beneficial owner's effective control. Applying indicia including the source of consideration, parties' relationship and surrounding circumstances, the Tribunal confirmed attachment of the identified shares as benami property. However, attachment could extend only to shares specified in the show-cause notice, provisional attachment order and impugned order. Freezing additional shares in the demat account without material linking them to the benami proceedings was impermissible, and their release to the rightful owner was directed.
Benami acquisition of shares was established through the alleged benamidar's lack of economic capacity and genuine operations, indirect funding from entities connected to the beneficial owner, unsupported commercial explanations, and the beneficial owner's effective control. Applying indicia including the source of consideration, parties' relationship and surrounding circumstances, the Tribunal confirmed attachment of the identified shares as benami property. However, attachment could extend only to shares specified in the show-cause notice, provisional attachment order and impugned order. Freezing additional shares in the demat account without material linking them to the benami proceedings was impermissible, and their release to the rightful owner was directed.
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